Nifty Struggles slated to break the 8600 mark

The NSE 50 and BSE 30 shares witnessed some amount of strength after mid-session today. Capital Goods, Consumer Durables and Healthcare have done well. The Nifty ended up by 20 points at 8588 and Sensex closed 75 points higher at 28298. The indices ended higher by 0.25 percent each.

The advance-decline ratio ended on a negative note. On the NSE, 1389 shares closed in green and 1536 shares ended in red.

Top 5 Nifty Gainers: L&T closed the day as the highest gainer, up by 2.87%. Kotak Mahindra, PNB, Dr Reddys labs and Tata Motors were among the others that closed higher.

Top 5 Nifty Losers: tech Mahindra closed lower by 3.2% today, followed by ITC, Coal India, Cairn India and Reliance.

9 out of the 13 sectors ended in the green. Capital Goods was the top gainer, up by 306 points. Consumer Durables and Healthcare ended the day higher around 200 points each. While Auto, Bankex and IT were closed in positive territory. However FMCG and Metals closed on the lower note, down by 93 points and 48 points respectively.

The Asian markets closed on a negative note. The Hang Seng ended lower by 138 points and Straits Times and KOSPI were also in negative. However Nikkei was the only one gainer, closing up by 50 points.

Buzzers: Kotak Bank stock has surged by 2% today and closed above the technical level of 700. If it’s sustain above this level may see pullback rally.

The Nifty Futures has not only crossed its first hurdle of 8600 but also managed to close above this level, indicating some positive sentiment for the next trading session.